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SOFTENING GOLD PRICES BRING GOLD IMPORTS DOWN IN INDIA

India’s gold imports have declined 13.5 % to $27.4 billion in 2016-17, Art of Jewellery reports. The main reason for the decline is “softening prices of gold in the domestic and world markets”.

 

According to the report, on a month-to-month basis, gold import jumped to $4.17 billion in March, compared to $974 million in March 2016. The imports mainly “take care of demand from the jewellery industry”.

 

India imported 560.32 tonnes of gold during the April-January period of the last fiscal. Gold imports totaled 968.06 tonnes in the entire 2015-16 fiscal, and 915.47 tonnes in 2014-15.

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